Passage Inc. Market Research Report

Company Overview

• Name: Passage Inc.

• Mission: The mission of Passage Inc. is to provide access to life-changing opportunities by matching top international talent with labor shortages in Canada and assisting them financially to pursue their journey.

• Founded: The company was founded in February 2024.

• Founder: Martin Basiri, former CEO of ApplyBoard and a prominent entrepreneur, founded Passage Inc.

• Key People:

• Martin Basiri, Founder & CEO

• Jonah Finkelberg, Chief of Staff

• Bobby Green, Chief Growth Officer

• Iman Hassani, Chief Operating Officer

• Siavash Mahmoudian, Chief Technology Officer

• Mark Steinman, Chief Legal Officer

• Headquarters: 333 Bay St, Toronto, ON, Canada

• Number of Employees: Fewer than 10 employees.

• Revenue: No information is available.

• Known For: Passage Inc. is recognized for addressing the problem of bridging talent with opportunities, especially focusing on immigrants aiming to study and work in Canada.

Products

• Primary Offering: Passage is creating a digital platform, referred to as a "super app," designed to assist skilled individuals from developing countries to study or work in Canada.

• High-Level Description: The platform will facilitate digital applications for studying or working in Canada. It aims to connect individuals with lenders or grantors to financially support their journey.

• Key Features:

• Streamlined application process for studying and working in Canada.

• Financial support facilitation through connections with lenders and grantors.

• Target focus on skilled trades, healthcare, and STEM sectors.

Recent Developments

• Funding: Passage Inc. secured C$40-million in seed funding led by Drive Capital, a significant backer of ApplyBoard.

• New Initiatives:

• Launch of a pilot program to bring 100 Afghan women to access transformational opportunities in Canada, focused on STEM studies.

• Development of the aforementioned "super app" to streamline the application and immigration process.

• Partnerships: Passage is in discussions with various Canadian financial institutions and charities to establish financial support mechanisms for prospective immigrants (specific details remain undisclosed).

Strategic Goals

• Target by 2030: Passage aims to eliminate the financial barriers for study abroad and immigration. The goal is to build a robust infrastructure supporting talented individuals by facilitating essential financial support and creating a fair ecosystem for talent integration in Canada.

• Economic Contributions: The company seeks to address labor shortages in Canada by sourcing skilled immigrants and ensuring a fair chance at opportunities.

This report encapsulates the current state of Passage Inc., focusing on its mission-driven efforts to enable global talent movement and contribute to Canada's workforce development.